Retirement Plans and Accounts definition

Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan and 401(k), IRA, and other tax deferred accounts that qualify for special federal income tax treatment under Internal Revenue Code Sections 401, 403, or 408 (or equivalent statutes). of the Parties A. ASSETS Estimated Fair Market Value Estimated Fair Market Value NAME 1 Cash 2 Stocks, bonds, and marketable securities 3 Closely held business interest 4 Home Equity 5 Other Real Estate 6 IRAs
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Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan;
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Retirement Plans and Accounts means any employer sponsored pension, profit-sharing, stock bonus or other retirement plan and 401(k), XXX, and other tax deferred accounts that qualify for special federal income tax treatment under Internal Revenue Code Sections 401, 403, or 408 (or equivalent statutes). Summary Financial Statements of the Parties A. ASSETS XXXXX XXXXXX Estimated Fair Market Value XXXXXX XXXXX Estimated Fair Market Value 1 Cash $1,000 $2,000 2 Stocks, bonds, and marketable securities $10,000 $10,000 3 Closely held business interest $100,000 $0 4 Home Equity $60,000 $0 5 Other Real Estate $0 $0 6 IRAs $35,000 $55,000 7 Other Retirement Assets $0 $0 8 Trust assets n/a n/a 9 All other assets n/a n/a TOTAL ASSETS $206,000 $67,000 B. DEBTS XXXXX XXXXXX XXXXXX XXXXX 10 Credit Card Debt $5,000 $2,000 11 Tax Debts n/a n/a 12 Other Debts n/a $5,000 TOTAL DEBTS $5,000 $7,000
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Examples of Retirement Plans and Accounts in a sentence

  • Deposit Insurance: Retirement Plans and Accounts Individual Retirement Accounts.

  • Please refer to the “Maximum Deposit Amount” and “Program Limitations” sections within Section II.B., “How the Programs Work,” for Program-specific limitations.Deposit Insurance: Retirement Plans and Accounts Individual Retirement AccountsIndividual retirement accounts as described in the Internal Revenue Code Sections408(a) and 408A are insured up to $250,000 per depositor.

  • Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts: Under current law, generally at the age of 72, individuals must take a required minimum distribution (“RMD”) from their defined contribution plans and IRAs. Due to the market downturn, the balances in these accounts have sharply decreased – in many instances, the market has reduced taxpayers’ accounts more than what their RMD would have been for 2020.

  • Please refer to the “Maximum Deposit Amount” and “Program Limitations” sections within Section II.B., “How the Programs Work,” for Program-specific limitations.Deposit Insurance: Retirement Plans and Accounts Individual Retirement AccountsIndividual retirement accounts as described in the Internal Revenue Code Sections 408(a) and 408A are insured up to $250,000 per depositor.

  • For example, if a corporation has both an operating account and a reserve account at the same bank, the FDIC would add both accounts together and insure the aggregated deposits up to $250,000.Deposit Insurance: Retirement Plans and Accounts Individual Retirement Accounts.

  • In regard to Retirement Plans and Accounts, the Parties covenant and agree that all accumulations in, and contributions to, Retirement Plans and Accounts whether before or during the marriage or civil partnership shall be the Separate Property of the Party who owns the account or is the plan beneficiary.

  • Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts Waiver of early withdrawal penalties for withdrawals (up to $100,000) from certain retirement accounts for COVID-19-related purposes.

  • We have summarized four areas that a financial institution is most likely to encounter- Section 2203 Temporary Waiver of Required Minimum Distribution Rules for Certain Retirement Plans and Accounts: IRA owners, including beneficiaries, will not be required to take a 2020 RMD from their IRAs or Inherited IRAs. The RMD waiver also applies to individuals who turned 70½ in 2019 but did not take their RMD before January 1, 2020.

  • Sheppard, IRS Introduces Two Unique Remedies for U.S. Persons with Unreported Canadian Retirement Plans and Accounts, INT’L TAX J., Jan.-Feb.

  • But most savings occurs through employer-provided retirement plans – less than 15% of Americans save for retirement outside of work.21 Figure 12: Retirement Plans and Accounts - Examples IRAs and IRA-based PlansThere are several reasons why employer-provided retirement plans are the main vehicle for savings:❖ Employers may automatically enroll workers into a plan at hire, so it takes no effort to start saving.

Related to Retirement Plans and Accounts

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Individual account program means the defined contribution individual account program of

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Administrative Plans means investment plans offered by the Management Company and approved by the Commission, where such plans allow investors a specific investment strategy in any one or a combination of Schemes managed by the Management Company in accordance with the conditions specified by SECP.